SE Asia Stocks-Most recover from early fall; Singapore outperforms

Reuters Staff

3 Min Read

By Aditya Soni
Sept 5 (Reuters) - Most Southeast Asian stock markets
recovered from early fall to close higher on Tuesday as
investors started looking beyond the North Korea issues.
Singapore shares led the gains in the region with a
rise of 0.6 percent.
Financials accounted for most of the gains with DBS Group
Holdings, Singapore's biggest financial stock by
market value, rising 2.1 percent and Oversea-Chinese Banking
Corp climbing 1.4 percent.
Data released after market hours on Monday showed that the
city-state's factory activity expanded at its fastest pace since
November 2014, helped by a rise in new orders, new exports and
factory output.
MSCI's broadest index of Asia-Pacific shares outside Japan
was up 0.3 percent as expectations that Beijing
will maintain support for its economy ahead of a key congress
supported Chinese stocks and metals prices.
Philippine shares recovered from early falls to close
slightly higher, extending gains into a fourth session.
"Market was down all day long, however, on the pre-close
there was some last-minute buying that pushed up the stocks of
select companies such as SM Investments, Jollibee and
Megaworld," said Lexter Azurin, a senior analyst with
Manila-based AB Capital Securities.
Industrial and consumer discretionary stocks led the upward
charge with Jollibee Foods Corp rising 2.5 percent and
SM Investments climbing 0.9 percent.
Data released earlier in the day showed that the country's
annual inflation in August quickened for the second straight
month.
Indonesian shares snapped five consecutive sessions
of falls to end the day up 0.28 percent with Bank Central Asia
rising 0.7 percent.
Vietnam shares extended gains into a fourth session
and closed at their highest level in four weeks. Vietcombank
rose as much as 3.2 percent to its highest since August
9.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS: Change on the day
Market Current previous Pct Move
close
Singapore 3251.26 3230.97 0.63
Bangkok 1620.42 1619.11 0.08
Manila 8049.35 8035.2 0.18
Jakarta 5829.979 5813.741 0.28
Kuala Lumpur 1769.63 1773.16 -0.20
Ho Chi Minh 792.31 788.73 0.45
Change so far
this year
Market Current End 2016 Pct Move
Singapore 3251.26 2880.76 12.86
Bangkok 1620.42 1542.94 5.02
Manila 8049.35 6840.64 17.67
Jakarta 5829.979 5296.711 10.07
Kuala Lumpur 1769.63 1641.73 7.79
Ho Chi Minh 792.31 664.87 19.17
(Reporting by Aditya Soni; Editing by Subhranshu Sahu)